To branch out into the digital asset business, KASIKORN Business-Technology Group (KBTG) has introduced Kubix, a company that will provide a system for digital token offerings in the primary market via blockchain – a new form of investment.
This move reflects KASIKORNBANK (KBank) ’s strategies that aim for democratized savings and investment to help customers gain access to potential wealth with efficient management. Kubix aims to become the leader in the investment development sphere, providing digital asset-related knowledge to the Thai public.
Ruangroj Poonpol, KBTG Chairman, noted that digital assets offer a new option for fund raising or investment in the capital market. Fund raising can be undertaken by converting assets to digital assets in the form of digital tokens.Then, an Initial Coin Offering – or ICO – is arranged with an ICO portal acting as an advisor and underwriter of newly–issued digital tokens that are offered to investors in the primary market.
Late last year, KBTG forged a partnership with the Stock Exchange of Thailand to establish the Thai Digital Asset Ecosystem, for which a comprehensive digital asset platform has been developed using distributed ledger technology. It aims to promote fund raising via digital tokens in response to the government’s digital economy development policy.
Recently, KBTG established Kubix Digital Asset Co., Ltd. (Kubix) with a registered capital of 70 million Baht or around 2.1 million USD. It is wholly owned by KBank through KASIKORN X Co.,Ltd., a subsidiary of KBTG to operate as an ICO portal, screen digital asset sellers, and assess business plans and risk appetite of investors. It will also be tasked with helping consider the digital token registration statement and draft prospectus prior to submission to the Office of the Securities and Exchange Commission (SEC).
Meanwhile, the digital token market is more secure and flexible than other investment markets because it will be operated via blockchain technology. Investing in digital tokens via ICO portal will be more exciting because investors will enjoy other benefits beyond monetary gains. The ICO portal business is under the supervision of the SEC. For persons interested in mobilizing funds or investing in digital assets, please find more details at www.kubix.co.